BUSI 2201U Study Guide - Final Guide: Statistical Inference, Marketing Ethics, Mass Customization
Document Summary
To aggregate prospective buyers into buyer that: have common needs within the group, respond similarly to a marketing action, across groups: distinct characteristics, behaviors, needs, behavioral reactions. Marketing segmentation is applicable to any marketing situation: b2c, b2b, no for profit. Strategy that involves a firm using different marketing mix activities, such as product features and advertising, to help consumers perceive the product as being different from and better than competing products. One product and multiple market segments: the firm produces only a single product or service but attempts to sell to different market segments. Multiple products and multiple segments: the firm produces a variety of products and services, that could satisfy the needs of variety of market segments. Segments of one: increased risk of working in only one segment. Marketing exam review: any shift in the consumer interest can affect the brand enormously, the company may fact troubles in expanding the business markets.
